Revance Therapeutics, Inc. (NASDAQ:RVNC) Receives $8.39 Average Price Target from Brokerages

Revance Therapeutics, Inc. (NASDAQ:RVNC) has earned an average recommendation of “Hold” from the nine analysts that are presently covering the stock, Marketbeat.com reports. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $8.39.

Several analysts have weighed in on RVNC shares. Needham & Company LLC reissued a “hold” rating on shares of Revance Therapeutics in a research note on Friday, January 17th. StockNews.com initiated coverage on Revance Therapeutics in a research note on Friday. They issued a “hold” rating for the company. Finally, Barclays reduced their price target on Revance Therapeutics from $7.00 to $3.00 and set an “equal weight” rating on the stock in a research report on Monday, December 23rd.

Revance Therapeutics Stock Performance

Shares of Revance Therapeutics stock opened at $3.65 on Friday. Revance Therapeutics has a 52-week low of $2.30 and a 52-week high of $6.65. The company has a fifty day moving average of $3.65 and a 200-day moving average of $3.95. The stock has a market capitalization of $381.02 million, a price-to-earnings ratio of -1.89 and a beta of 0.90.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Oddo BHF Asset Management Sas bought a new stake in Revance Therapeutics during the 3rd quarter valued at about $3,763,000. FNY Investment Advisers LLC grew its holdings in shares of Revance Therapeutics by 160.4% during the fourth quarter. FNY Investment Advisers LLC now owns 477,823 shares of the biopharmaceutical company’s stock valued at $1,452,000 after buying an additional 294,323 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of Revance Therapeutics in the third quarter worth $2,315,000. Charles Schwab Investment Management Inc. raised its position in Revance Therapeutics by 5.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 790,837 shares of the biopharmaceutical company’s stock worth $4,104,000 after buying an additional 41,250 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Revance Therapeutics by 6.6% during the third quarter. State Street Corp now owns 2,433,963 shares of the biopharmaceutical company’s stock valued at $12,632,000 after purchasing an additional 150,323 shares during the last quarter. Institutional investors own 97.70% of the company’s stock.

About Revance Therapeutics

Revance Therapeutics, Inc, a biotechnology company, engages in the development, manufacture, and commercialization of neuromodulators for various aesthetic and therapeutic indications in the United States and internationally. The company’s lead drug candidate is DAXXIFY (DaxibotulinumtoxinA-lanm) for injection for the treatment of glabellar lines and cervical dystonia; has completed phase II clinical trials to treat upper facial lines, moderate or severe dynamic forehead lines, and moderate or severe lateral canthal lines; and has completed Phase II clinical trials for the treatment of adult upper limb spasticity and plantar fasciitis.